Howard Financial Services LTD. Purchases Shares of 1,969 Shopify Inc. (NYSE:SHOP)

Howard Financial Services LTD. acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,969 shares of the software maker’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Brooklyn Investment Group purchased a new position in Shopify during the third quarter valued at $33,000. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. Truvestments Capital LLC purchased a new stake in Shopify in the third quarter worth about $45,000. Finally, GAMMA Investing LLC raised its stake in shares of Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SHOP shares. Scotiabank increased their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, October 7th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their target price on Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Shopify Stock Performance

Shopify stock opened at $103.25 on Friday. The stock has a 50 day moving average of $109.06 and a 200-day moving average of $85.30. The stock has a market cap of $133.41 billion, a P/E ratio of 96.50, a price-to-earnings-growth ratio of 2.18 and a beta of 2.46. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.